Legacy Iron Ore reports half-year loss despite gold production boost

Legacy Iron Ore Limited reported a loss of $2.18m for the half-year ended September 30, 2025, a decrease from a $16.76m profit in the same period of 2024. Revenue from ore sales increased to $39.60m from $26.79m in the prior period. The company dispatched 152,366 tonnes of ore, recovering 7,613 ounces of gold. Mining activities at the Mount Celia Gold Project advanced significantly, with 213,707 tonnes mined at an average grade of 1.49 g/t.

Exploration continued across various projects, including South Laverton, East Kimberley, and Mount Bevan. The Mount Celia mineral resource estimate was upgraded, and a total of 5,838 metres of drilling was completed. The Mount Bevan Project, a joint venture, is progressing with feasibility studies for magnetite and exploration for lithium, leading to an increase in total Mineral Resource Estimate to 1,291 MT.

Cash on hand at September 30, 2025, was $10.2m. The company's total assets stood at $37.29m, with total liabilities of $10.39m. During the period, the company secured a monthly fee of $110,000 for technical services related to the Mount Celia Gold Project, contributing to other income.